§ Mr. MaudeTo ask the Chancellor of the Exchequer if he will make a statement on his policy as regards making statements about the UK interest rate levels. [55843]
§ Mr. Gordon Brown[holding answer 22 October 1998]: The inflation target is set by the Government. Month by month interest rate decisions are a matter for the Monetary Policy Committee.
§ Mr. MitchellTo ask the Chancellor of the Exchequer how the international agreement to reduce interest rates will be implemented(a) in the EU and (b) in Great Britain. [56162]
§ Ms HewittThe Finance Ministers and Central Bank Governors of the G7 keep in regular contact. Their statement of October 3 reaffirmed the key importance of each country in the global economy doing its part to promote recovery and financial stability. Countries face different circumstances, but several have been able to cut interest rates recently, including the USA (twice), Canada, and the UK.